Agree Realty (NYSE:ADC) Announces Quarterly Earnings Results

Agree Realty (NYSE:ADC - Get Free Report) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.01, Zacks reports. The business had revenue of $169.16 million during the quarter, compared to the consensus estimate of $167.77 million. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. During the same period in the prior year, the firm posted $0.43 EPS. Agree Realty updated its FY 2025 guidance to 4.270-4.300 EPS.

Agree Realty Trading Down 0.6 %

Agree Realty stock traded down $0.43 during trading hours on Friday, hitting $75.87. The company had a trading volume of 410,093 shares, compared to its average volume of 1,222,790. Agree Realty has a 1 year low of $57.02 and a 1 year high of $79.65. The company has a 50-day moving average price of $75.17 and a two-hundred day moving average price of $74.01. The firm has a market cap of $8.14 billion, a P/E ratio of 42.62, a P/E/G ratio of 2.88 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 0.78.

Agree Realty Increases Dividend

The company also recently disclosed a apr 25 dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a $0.256 dividend. This is a positive change from Agree Realty's previous apr 25 dividend of $0.25. This represents a yield of 4.1%. The ex-dividend date is Wednesday, April 30th. Agree Realty's dividend payout ratio is 172.47%.

Wall Street Analysts Forecast Growth

ADC has been the topic of several research reports. Evercore ISI lifted their price objective on shares of Agree Realty from $82.00 to $83.00 and gave the stock an "outperform" rating in a research report on Thursday. Barclays raised shares of Agree Realty from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $74.00 to $75.00 in a report on Tuesday, March 4th. StockNews.com raised Agree Realty from a "sell" rating to a "hold" rating in a report on Sunday, February 16th. Wells Fargo & Company boosted their target price on Agree Realty from $78.00 to $81.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. Finally, Robert W. Baird increased their price target on Agree Realty from $76.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Agree Realty presently has a consensus rating of "Moderate Buy" and an average target price of $80.88.

Agree Realty Company Profile

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.